That we are in recession is overstating the accepted fact. What we may not know is this: Recession isn’t the worse that can happen to our economy. Depression is. And it looms if our Government keeps playing ‘boju-boju’ with decision. This is the time to take bold decisions fast. Here are my (Ediale Kingsley) 5.6 cents
1. Find A Lasting Answer to Power. How long do we have to wait to tackle this? When we have our 100 year independence anniversary, how do we explain that we have lived 100years as a Nation in Darkness? If this recession met us in LIGHT…perhaps the outcome would have been more favorable. Give us electricity.
2. Plan Long-term, Short-term: Every body is clamoring for diversity into Agriculture. I say we don’t need Agriculture now. That was a talk for 40years ago. We need industries now. Our industrial set ups are all gone. All gone. Industries around Agriculture, Technology around Industries, and Smart Startups around Agricultural services and products. These are what we need now. And we need short term plans running concurrently with long plans on this one. Cocoa products, for instance, will take long term planning to rescue. But Maize may not take that long.
3. Bank On Our Numbers: We are almost 200,000, 000 people. That is gold for the richest men in the world. That is why Dangote still lives in Nigeria. That is why Mark Zukerberg came by the other day. IPhone ( or Apple) and even all these Chinese products are having a ride on our numbers. We need to start thinking of how to generate massive liquidity from these people and their brands. The Facebook founder has done everything possible to penetrate China to no avail. He was even prepared to name Max after the Chinese president. We go to South Africa to shoot music videos, South Africans come here to sell MTN, DSTV, Eggs ( That story of 5, 000, 000 eggs coming from South Africa on a daily basis to Nigeria still baffles my balls!).
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4. Stop selling our National Assets. We are in recession. No wise man sells it’s assets when he is vulnerable. Have you ever gone to computer village at Ikeja to sell your phone before? There they will offer you N2000 for your N45000 smart phone without any atom of guilt. No good buyer will pay for these assets at the moment. We are vulnerable.
5.1. Hike Tax On Tobacco. Billions of cigarettes sticks are consumed daily across the land. No, they won’t stop when you increse the tax. Yes, we need the money.
5.2. Hike Tax On Alcohol. Yes, more litters of these branded drinks are more consumed locally than the litters of petroleum products we use.
5.3. Hike The Tax On Marijuana: Customs should stop burning Marijuana. We need to legalize and make money from these products. Just over tax it. The government hasn’t made it legal. Yet it’s everywhere.
5.4. Tax The Prostitutes Heavily: Aside knowing that this will help reduce the speedy growth of this practice. I know they make a lot of money. Developed countries that have already legalized this trade aren’t stupid. We aren’t more righteous than them either. And I am yet in no way promoting it. Nobody was promoting them when they took over the big cities and crannies of our land.
5.5. Tax The Religious Organization: I know this is a sensitive matter. I also know three things too. One, Jesus paid his tax. Two, we need to raise our reserve and the churches and mosques can help. Three, genuine religious leaders won’t mind paying. If our Presidential candidates during election periods go about seeking the endorsements of the Religious fathers. I see no reason why they can’t hold a serious conference of the assembly of G.Os and Imams. The president needs to organise and call for their help. They have taken over the industrial spaces across the land. Warehouses are now religious grounds. Perhaps it’s a strategic work of God, So the land can be saved by his people. So let the tax begin.
5.6. Hike The Rich Man’s Tax: It’s time to raise tax for luxurious items. This is the period to tax the rich. Use taxes from the rich to provide key services to enable the poor. The BRT buses, for instance, is helping the poor in no small way. Thanks to the revolutionary thinking of the past Lagos State administration, Lagosians are able to transport goods and persons on a subsidized cost.